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The Miniratnas (I and II)

In October 1997, the Government decided to grant enhanced autonomy and delegation of financial powers to some other profit making companies (other than the Navratnas) subject to certain eligibility conditions and guidelines to make them efficient and competitive. These categories were Category I and Category II

  1. Category I CPSEs should have made profit in the last three years continuously, the pre-tax profit should have been Rs. 30 crore or more in at least one of the three years and should have a positive net worth.
  2. Category II CPSEs should have made profit for the last three years continuously and should have a positive net worth.

These CPSEs have enhanced delegated powers provided they meet the following eligibility conditions and criteria:

  1. They have not defaulted in the repayment of loans/interest payment on any loans due to the Government
  2. These public sector enterprises shall not depend upon budgetary support or Government guarantee.
  3. The Boards of these CPSEs should be restructured by inducting at least three non-official Directors as the first step before the exercise of enhanced delegation of authority.
  4. The administrative ministry concerned shall decide whether a public sector enterprise fulfilled the requirements of a category I/category II company before the exercise of enhanced powers.

Category I CPSEs

  1. AIRPORTS AUTHORITY OF INDIA
  2. ANTRIX CORP.LTD.
  3. BALMER LAWRIE & CO.LTD.
  4. BEML LTD.
  5. BHARAT COKING COAL LTD.
  6. BHARAT DYNAMICS LTD.
  7. BHARAT SANCHAR NIGAM LTD.
  8. BRIDGE & ROOF CO.(INDIA) LTD.
  9. CENTRAL COALFIELDS LTD.
  10. CENTRAL WAREHOUSING CORP.
  11. CHENNAI PETROLEUM CORP.LTD.
  12. COCHIN SHIPYARD LTD.
  13. DREDGING CORP.OF INDIA LTD.
  14. GARDEN REACH SHIPBUILDERS & ENGINEERS LTD.
  15. GOA SHIPYARD LTD.
  16. HINDUSTAN COPPER LTD.
  17. HINDUSTAN NEWSPRINT LTD.
  18. HINDUSTAN PAPER CORP.LTD.
  19. HLL LIFECARE LTD.
  20. HOUSING & URBAN DEVELOPMENT CORP.LTD.
  21. HSCC (INDIA) LTD.
  22. INDIA TOURISM DEVELOPMENT CORP.LTD.
  23. INDIA TRADE PROMOTION ORGANISATION
  24. INDIAN RAILWAY CATERING & TOURISM CORP.LTD.
  25. INDIAN RARE EARTHS LTD.
  26. INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LTD.
  27. IRCON INTERNATIONAL LTD.
  28. KAMARAJAR PORT LTD.
  29. KIOCL LTD.
  30. MAHANADI COALFIELDS LTD.
  31. MANGALORE REFINERY & PETROCHEMICALS LTD.
  32. MAZAGON DOCK SHIPBUILDERS LTD.
  33. MISHRA DHATU NIGAM LTD.
  34. MMTC LTD.
  35. MOIL LTD.
  36. MSTC LTD.
  37. NATIONAL FERTILIZERS LTD.
  38. NATIONAL SEEDS CORP.LTD.
  39. NATIONAL SMALL INDUSTRIES CORP.LTD.,THE
  40. NHPC LTD.
  41. NORTH EASTERN ELECTRIC POWER CORP.LTD.
  42. NORTHERN COALFIELDS LTD.
  43. NUMALIGARH REFINERY LTD.
  44. ONGC VIDESH LTD.
  45. PAWAN HANS LTD.
  46. PROJECTS & DEVELOPMENT INDIA LTD.
  47. RAIL VIKAS NIGAM LTD.
  48. RAILTEL CORP.OF INDIA LTD.
  49. RASHTRIYA CHEMICALS & FERTILIZERS LTD.
  50. RITES LTD.
  51. SECURITY PRINTING & MINTING CORP.INDIA LTD.
  52. SJVN LTD.
  53. SOUTH EASTERN COALFIELDS LTD.
  54. STATE TRADING CORP.OF INDIA LTD.,THE
  55. TELECOMMUNICATIONS CONSULTANTS INDIA LTD.
  56. THDC INDIA LTD.
  57. WAPCOS LTD.
  58. WESTERN COALFIELDS LTD.

Category II CPSEs

  1. BHARAT PUMPS & COMPRESSORS LTD.
  2. BROADCAST ENGINEERING CONSULTANTS INDIA LTD.
  3. CENTRAL MINE PLANNING & DESIGN INSTITUTE LTD.
  4. CENTRAL RAILSIDE WAREHOUSING CO.LTD.
  5. EDCIL (INDIA) LTD.
  6. ENGINEERING PROJECTS (INDIA) LTD.
  7. FCI ARAVALI GYPSUM & MINERALS INDIA LTD.
  8. FERRO SCRAP NIGAM LTD.
  9. HMT (INTERNATIONAL) LTD.
  10. INDIAN MEDICINES PHARMACEUTICAL CORP.LTD.
  11. MECON LTD.
  12. MINERAL EXPLORATION CORP.LTD.
  13. NATIONAL FILM DEVELOPMENT CORP.LTD.
  14. PEC LTD.
  15. RAJASTHAN ELECTRONICS & INSTRUMENTS LTD.

Source: Department of Public Enterprises (as on March, 2016)

The delegation of decision making authority available at present to the Boards of these Miniratna CPSEs is as follows:

  1. Capital Expenditure
    1. CPSEs Category I: The power to incur capital expenditure on new projects, modernisation, purchase of equipment etc., without Government approval upto Rs. 500 crore or equal to net worth, whichever is less.
    2. CPSEs Category II: The power to incur capital expenditure on new projects, modernisation, purchase of equipment etc., without Government approval upto Rs. 250 crore or equal to 50 % of the net worth, whichever is less.
  2. Joint Ventures and Subsidiaries
    1. CPSEs Category I: The power to incur capital expenditure on new projects, modernisation, purchase of equipment etc., without Government approval upto Rs. 500 crore or equal to net worth, whichever is less.
    2. CPSEs Category II: The power to incur capital expenditure on new projects, modernisation, purchase of equipment etc., without Government approval upto Rs. 250 crore or equal to 50 % of the net worth, whichever is less.
  3. Mergers and Acquisitions
    The Board of Directors of these CPSEs have the powers for mergers and acquisitions, subject to the conditions that (i) it should be as per the growth plan and in the core area of functioning of the CPSE, (ii) conditions/limits would be as in the case of establishing joint ventures/subsidiaries, and (iii) Cabinet Committee on Economic Affairs would be kept informed in case of investments abroad
  4. Scheme for HRD
    The Board of Directors of these CPSEs have the powers to structure and implement schemes relating to personnel and human resource management, training, voluntary or compulsory retirement schemes, etc. The Board of Directors of these CPSEs has the power to further delegate the powers relating to Human Resource Management (appointments, transfers, postings, etc). of below Board level executives to subcommittees of the Board or to executives of the CPSE, as may be decided by the Board of the CPSE.
  5. Tour Abroad of Functional Directors
    The Chief Executives of these CPSEs have the power to approve business tours abroad of functional directors upto 5 days, duration (other than study tours, seminars, etc) in emergency, under intimation to the Secretary of the administrative ministry. In all other cases including those of Chief Executive, tours abroad would continue to require the prior approval of the minister of the Administrative Ministry/Department.
  6. Technology Joint Ventures and Strategic Alliances
    The Board of Directors of these CPSEs have the powers to enter into technology joint ventures, strategic alliances and to obtain technology and know-how by purchase or other arrangements, subject to government guidelines as may be issued from time to time.

The above delegation of powers is subject to similar conditions as are applicable to Navratna CPSEs.